Presentation includes grammar, spelling and compliance with the word limit. Submission instruction Assignment must be submitted electronically and in hardcopy. Electronic submission must be submitted [email protected] Com. An originality report is available to students upon submission. Assignment with originality report level of more than 30 may indicate that the contents have more than 30 in similarity with assignment submitted by other students OR assignment has not been properly referenced.

Assignment with originality report level exceeding 30 will be penalized by four (4) marks. Hardcopy submission must be submitted by the due date. Background The rationale for Auditing as per Unit of Study Outline is that on completion of this unit students should have a sound understanding of the underlying concepts of auditing and in particular of financial auditing. By adopting a logical, structured approach they should have the capacity to analyses the salient audit issues and apply relevant auditing theories and succinctly communicate their repressions, ethical decision.

One of the unit outcomes requires students to be familiar with key tools used by auditors for collecting and evaluating evidence, in both manual and computerized accounting information systems, which will enable them to express an opinion on the fair presentation of financial reports. Required 1. For the purpose of the assignment, you assume the role of an auditor and your firm has recently been appointed as external auditor of an entity. As required by Auditing Standard, you are preparing an audit plan or the audit of the entity financial statements. . The audit fee is CCNY 500,000 and had been communicated to the client in the Engagement Letter. 3. You are required to download the 2013 annual report published by of a manufacturing entity of Shanghai Stock Exchange or Sheehan Stock Exchange – HYPERLINK http//www. SSE. Com. CNN/ http//move. SSE. Com. CNN/or http//www. See. CNN/4. Using information of the textbook, the company annual report and other relevant information, preparing a report for your Audit Manager to assist him in planning he audit.

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Note that quoting directly from textbook does not meet the objective of the assignment. 5. Your report must include the followings – Executive summary – Introduction – Key planning information a. Understanding the clients business and industry b. Assessing client business risk c. Performing preliminary analytical procedures d. Setting materiality and assess acceptable audit risk and inherent risk e.

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